who wants to be a social entrepreneur? © reserved

Who Wants to be a Who Wants to be a Social Entrepreneur?Social Entrepreneur?

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Question 1

£100

What is the first thing to consider when setting up a business

A Market Research

B Insurance

C Accounts

D Business Plan

What is the first thing to consider when setting up a business

A Market Research

B Insurance

C Accounts

D Business Plan

Question 2

£200

The first legal requirement for an organisation receiving

public funds is?

A Insurance Policy

B VAT Registration Form

C Written Constitution

D Health and Safety Policy

The First legal requirement for an organisation receiving

public funds is?D

A Insurance Policy

B VAT Registration Form

C Written Constitution

D Health and Safety Policy

Question 3

£500

How is the Board of a Social Enterprise appointed?

A Purchase of shares

B Appointed by Local Authority

C Democratic election

D Founders automatically sit on Board

How is the Board of a Social Enterprise appointed?

A Purchase of shares

B Appointed by Local Authority

C Democratic election

D Founders automatically sit on Board

Question 4

£1,000

What would you use to show that you can remain in business for

the next three years?

A Cash Flow Forecast

B Permanent Staff Contracts

C Business Plan

D Track record of bid writing

What would you use to show that you can remain in business for

the next three years?

A Cash Flow Forecast

B Permanent Staff Contracts

C Business Plan

D Track record of bid writing

Question 5

£2,000

Who is responsible for delivery of the business plan?

A The Administrator

B Everyone within the enterprise

C The Staff Team

D The Manager

Who is responsible for delivery of the business plan?

A The Administrator

B Everyone within the enterprise

C The Staff Team

D The Manager

Question 6

£5,000

What do you have to issue to employees?

A Contract of Employment

B Pension Scheme

C Uniform

D Mobile Phone

What do you have to issue to employees?

A Contract of Employment

B Pension Scheme

C Uniform

D Mobile Phone

Question 7

£10,000

What happens to profit generated by a Social

Enterprise?

A It doesn’t make a profit

B It is used for social benefit

C It is shared amongst the staff

D It goes to the Government

What happens to profit generated by a Social

Enterprise?

A It doesn’t make a profit B It is used for social benefit

C It is shared among the staff

D It goes to the Government

Question 8

£20,000

DD

How can you demonstrate a social enterprise is financially

sustainable?

A Grants Secured

B Increased numbers of staff

C Profit and Loss Accounts

D Track record of Delivery

How can you demonstrate a social enterprise is financially

sustainable?

A Grants Secured

B Increased numbers of staff

C Profit and Loss Accounts

D Track record of Delivery

Question 9

£50,000

How many people do you need to register a company Ltd by

Guarantee?

A Six

B Two

C Eight

D Any odd number

How many people do you need to register a company Ltd by

Guarantee?

A Six

B Two

C Eight

D Any odd number

Question 10

£100,000

D

What does Limited Liability mean?

B Health and Safety does not apply

C Members are protected if SE fails

D The Government pays off your debts

A Directors cannot be prosecuted

What does Limited Liability mean?

A Directors cannot be prosecuted

B Health & Safety does not applyT

C Members are protected if the SE fails

D The Government pays off your debts

Question 11

£250,000

How can Local Authorities support social enterprises to

secure premises?

A Underwriting mortgages

B Transferring assets

C Support to write grant applications

D Reducing business rates

How can Local Authorities support social enterprises to

secure premises?

A Underwriting mortgages

B Transferring assets

C Support to write grant applications

D Reducing business rates

Question 12

£500,000

What is the threshold above which Social Enterprises have to

register for VAT?

A £27,500

B £49,000

C £81,000

D £100,000

What is the threshold above which Social Enterprises have to

register for VAT?

A £27,500

B £49,000

C £81,000

D £100,000

Question 13

£1,000,000

What three things do Social Enterprises need to keep in

balance?

A Staff – Skills - Support

B Tendering – Training - Timekeeping

C Management – Money - Marketing

D Product – Process - Profit

What three things do Social Enterprises need to keep in

balance?

A Staff – Skills - Support

B Tendering – Training - Timekeeping

C Management – Money - Marketing

D Product – Process - Profit

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